Single car garage Sydney, Australia, recently sold for 500,000 Australian dollars, or $332,000 USD. Yes, it’s just a garage. Sky high prices reflect Parking demand is high in desirable inner-city areas and lacking freestanding garages. A local broker said Yahoo Finance that up to 12% of property value is tied to parking. Many apartment rentals in Sydney come with private parking nearby.
It is the account of the property owner who buys the apartment for rent and keep the garage for themselves. Garages and apartments can also have their own names, which is how we got into this situation. Davide Talone, the broker behind the sale, speak Financial assessment:
“I think $500k is achievable. But we have to come up with a process to get to that number. We achieved that number through competition.”
“I will knock on about 50 doors. And will knock on the doors of about 4 streets with about 20 to 50 houses in them. The people I couldn’t talk to directly, I went back, knocked on the door a second time, and left a letter that said, “We’ve been trying to reach you. This is the product we are selling, if interested please contact us.
“Initially there were 10 people interested, but when we showed them the price, the number dropped to four.”
A number of six-figure garages have been sold in Sydney over the past few years and the trend doesn’t appear to be stopping any time soon. Talone notes that his buyer is a car enthusiast, but others want a garage just for fun. increase the value of their home.
There are high-priced parking lots in other parts of the world, but there is often an extremely luxurious experience attached to it. In New York City, there are accommodation spots Automated parking structure underneath multi-million dollar high-rise buildings. Costs can range from $300,000 to $600,000. Parking in Hong Kong is a more traditional activity, where a parking space worth $1.3 million Includes spa access and bottle service. It makes spending money on parking really worth it.
